Monday, November 21, 2011

1 in 5 Vancouver Homes and 1 in 20 Toronto Homes Sold for over $1 Million

Canada House Prices: 1 In 5 Vancouver Homes Now Sell For More Than $1 Million
CREA's data shows the percentage of homes sold above the million-dollar mark has doubles since 2009. The same is true for Toronto, where more than 5 per cent of homes sold this year went for more than $1 million. That's double the percentage in 2009.
This doesn't mean that 1/5 of the homes in Vancouver are worth a million. Houses that are being used speculatively are brought back to market faster than the norm.

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